Nov. 25 (Bloomberg) -- German stocks climbed, after posting
their longest weekly winning streak since February 2012, as Iran
agreed to restrict its nuclear program.

Fresenius Medical Care AG surged the most in five years
after a U.S. regulator scrapped a proposed 9.4 percent cut in
Medicare payments to dialysis providers. Deutsche Lufthansa AG,
Europe’s biggest airline by sales, gained 1.8 percent.

The DAX Index added 0.9 percent to 9,299.95 at the close of
trading in Frankfurt to a record level. The equity benchmark has
surged 22 percent in 2013 as central banks around the world
pledged to leave interest rates low for a prolonged period of
time. The gauge has climbed for the past seven weeks. The
broader HDAX Index increased 0.8 percent today.

“Stocks in Europe are up today following a strong close on
Friday in the U.S. and on the Iran nuclear deal,” Ion-Marc
Valahu, a co-founder and fund manager at Clairinvest in Geneva,
wrote in an e-mail. The Standard & Poor’s 500 Index closed at a
record 1,804.76 on Nov. 22.

Iran agreed to limit its nuclear program in exchange for as
much as $7 billion in relief from economic sanctions over six
months. Diplomats including Iranian Foreign Minister Mohammad
Javad Zarif and U.S. Secretary of State John Kerry announced the
pact early yesterday in Geneva.

Iran’s plan to generate nuclear power had prompted concern
of a race to develop nuclear weapons between the Shiite
theocracy and predominantly Sunni Saudi Arabia. Iran aims to
conclude a comprehensive deal with the U.S., U.K., France,
Russia, China and Germany within six months.

House Sales

A report from the National Association of Realtors showed
the number of Americans signing to buy previously owned homes
unexpectedly fell in October. The gauge of pending house sales
decreased 0.6 percent. It dropped 4.6 percent in September. The
median projection in a Bloomberg survey of economists had called
for a 1 percent gain in the index from the previous month.

Fresenius Medical jumped 7 percent to 51.19 euros after the
Centers for Medicare & Medicaid Services left payments to
dialysis providers unchanged for 2014 in a final ruling.

Equinet Bank AG upgraded Fresenius Medical’s shares to buy
from accumulate, describing the decision as more favorable than
expected. The brokerage increased its price estimate on the
shares to 61 euros from 55 euros.

Lufthansa rose 1.8 percent to 16.07 euros as a gauge of
travel and leisure stocks posted the biggest gain of the 19
industry groups in the Stoxx Europe 600 Index.

Continental Gains

Continental AG added 2.2 percent to 153.60 euros after
Bankhaus Lampe KG upgraded Europe’s second-largest auto-parts
supplier to buy from hold. The brokerage said Continental’s
product range should enable it to benefit more than its rivals
from increasing global car production through 2016. Bankhaus
Lampe increased its price forecast on the shares to 180 euros
from 110 euros.

“We are more optimistic on the earnings potential and have
raised our expectations accordingly,” that Bankhaus Lampe
analysts wrote in a note.

The volume of shares changing hands in DAX-listed companies
was 9 percent lower than the average of the past 30 days,
according to data compiled by Bloomberg.